Asked by Marcello Cappuccio on Sep 29, 2024
Which of the following reflects the concept of progressive taxation?
A) All taxpayers pay taxes at the same percentage rate.
B) People with higher incomes pay taxes at a higher percentage rate.
C) People with higher incomes pay taxes at a lower percentage rate.
D) The tax burden consists mostly of property and sales taxes.
E) Tax rates increase by a set percentage every year.
Progressive Taxation
A tax system in which the tax rate increases as the taxable amount increases, often designed to distribute the tax burden more evenly across various income levels.
- Understand taxation principles, including progressive taxation and tax loopholes, and their socioeconomic impacts.
Learning Objectives
- Understand taxation principles, including progressive taxation and tax loopholes, and their socioeconomic impacts.
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